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In this video tutorial, the presenter explains how to hide placeholder text in content control form fields. While the placeholder appears as light-gray text to prompt users, there may be instances where you prefer it not to be visible. The tutorial demonstrates this process using a specific example of a plain text form field. To hide the placeholder text, you enter design mode, highlight the placeholder text (including the period), right-click, and select the font option. In the font box that appears, under the font effects, there is an option to select "hidden," allowing the placeholder text to be concealed. The presenter encourages viewers to check out their playlist for creating fillable forms.